Domestic prices for heavy steel plate went down in Europe in the week to Wednesday October 28 due to poor demand, sources have told Fastmarkets.
Fastmarkets' weekly price assessment for
steel domestic plate, 8-40mm, exw Southern Europe, was ?,?450-465 ($532-549) per tonne on October 28, down by ?,?5-10 per tonne from ?,?460-470 per tonne.
The assessment reflected offers and achievable prices heard in the market.
"Italian re-rollers are in an extremely difficult situation, because they are facing [steel] slab prices of ?,?390 per tonne delivered, and they are not able to raise plate prices to the necessary level of ?,?480-500 per tonne ex-works due to the missing demand," a German trader said.
"Therefore,...